Agritech startup Nutrifresh on Tuesday said it has raised USD 5 million (Rs 38.8 crore) from investors for expansion and growth. The company focuses on hydroponically-grown, fresh, clean, green, residue-free, and chemical-free produce. Nutrifresh has attracted USD 5 million as pre-series seed funding.
The funding is led by Theodore Cleary (Archer Investments), Sandiip Bhammer (Managing Partner – Green Frontier Capital), Sky Kurtz (CEO & co-founder of Pure Harvest UAE), Mathew Cyriac (Florintree Advisors & ex-MD of Blackstone India), Soumitra Dutta (Dean Elect – Sa d Business School, University of Oxford), Shaishav Dharia (Regional CEO, Lodha Group), Karan Goshar (Samarthya Investment Advisors LLP) among others.
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“The funding will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated Farm-tech platform,” Nutrifresh said in a statement. Sanket Mehta and Ganesh Nikam are co-founders of Nutrifresh. The entire production is controlled right from procurement of seeds, germination, nursery, harvesting, packaging and finally delivery of the produce to the end user. The produce reaches the consumer within 24 hours of harvest.
“Team Nutrifresh is extremely committed to bringing focused Hydroponic Farming which is robust, tech-enabled, IOT based and gives consistent production,” Mehta said. “With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardisation in the production process thus, scaling the farms with requisite SOPs to gain a higher competitive edge,” he added.